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PUBLISHER: KBV Research | PRODUCT CODE: 1336014

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PUBLISHER: KBV Research | PRODUCT CODE: 1336014

North America Automotive Electric Power Steering Market Size, Share & Industry Trends Analysis Report By Propulsion Type, By Component, By Vehicle Type, By Type, By Country and Growth Forecast, 2023 - 2030

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The North America Automotive Electric Power Steering Market would witness market growth of 5.4% CAGR during the forecast period (2023-2030).

The market is anticipated to be propelled by incorporating more sophisticated electric components that enhance safety features. Automakers are integrating electric systems and components into vehicle designs to improve the vehicles' quality and driving experience. Manufacturers are integrating various electronic devices and systems to increase the efficacy of vehicles and effectively monitor faults by tracking the operation of all main components. Electric power steering system adoption is anticipated to increase during the forecast period due to several advantages over hydraulic power steering, including minimal maintenance costs and enhanced fuel economy.

The rapid growth of autonomous driving technology stimulates significant advancements in the automotive industry. In March 2023, for instance, May Mobility introduced a third-generation autonomous driving system that includes advanced features and capabilities that improve the safety and efficacy of autonomous vehicles. Autonomous vehicles need sophisticated steering capabilities to navigate and maneuver securely without direct driver input. EPS systems facilitate accurate and dependable steering control for autonomous driving. The safe and effective operation of autonomous vehicles depends on steering control that is precise and responsive.

The United States automobile market is one of the largest in the globe. According to the International Trade Association, the United States sold 14.5 million light vehicles in 2020. Along with the auto assembly plants, many manufacturers have engine and transmission facilities and conduct research and development, design, and testing in the United States. The automobile industry in the United States received $143,3 billion in foreign direct investment in 2019. According to the International Trade Association, Mexico is the seventh-largest global manufacturer of passenger vehicles, producing over three million vehicles annually. In addition, 90% of vehicles manufactured in Mexico are exported, with 76% traveling to the United States. These factors have contributed to the region's automotive industry's constant expansion, resulting in a rise in demand and market expansion.

The US market dominated the North America Automotive Electric Power Steering Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $6,596.5 million by 2030. The Canada market is experiencing a CAGR of 7.8% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 6.8% during (2023 - 2030).

Based on Propulsion Type, the market is segmented into ICE and Electric. Based on Component, the market is segmented into Steering Column, Electric Control Unit, Electric Motor, Rack & Pinion and Others. Based on Vehicle Type, the market is segmented into Passenger Cars and Commercial Vehicles. Based on Type, the market is segmented into Column Electric Power Steering, Rack Electric Power Steering and Pinion Electric Power Steering. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include NSK Ltd., Robert Bosch GmbH, HL Mando Corporation, Hitachi, Ltd., JTEKT Corporation, ZF Friedrichshafen AG, Thyssenkrupp AG, BBB Industries (Clearlake Capital Group, L.P.), Nexteer Automotive (Pacific Century Motors) and Zhejiang Shibao Co., Ltd.

Scope of the Study

Market Segments covered in the Report:

By Propulsion Type

  • ICE
  • Electric

By Component

  • Steering Column
  • Electric Control Unit
  • Electric Motor
  • Rack & Pinion
  • Others

By Vehicle Type

  • Passenger Cars
  • Commercial Vehicles

By Type

  • Column Electric Power Steering
  • Rack Electric Power Steering
  • Pinion Electric Power Steering

By Country

  • US
  • Canada
  • Mexico
  • Rest of North America

Companies Profiled

  • NSK Ltd.
  • Robert Bosch GmbH
  • HL Mando Corporation
  • Hitachi, Ltd.
  • JTEKT Corporation
  • ZF Friedrichshafen AG
  • Thyssenkrupp AG
  • BBB Industries (Clearlake Capital Group, L.P.)
  • Nexteer Automotive (Pacific Century Motors)
  • Zhejiang Shibao Co., Ltd.

Unique Offerings from KBV Research

  • Exhaustive coverage
  • Highest number of market tables and figures
  • Subscription based model available
  • Guaranteed best price
  • Assured post sales research support with 10% customization free

Table of Contents

Chapter 1. Market Scope & Methodology

  • 1.1 Market Definition
  • 1.2 Objectives
  • 1.3 Market Scope
  • 1.4 Segmentation
    • 1.4.1 North America Automotive Electric Power Steering Market, by Propulsion Type
    • 1.4.2 North America Automotive Electric Power Steering Market, by Component
    • 1.4.3 North America Automotive Electric Power Steering Market, by Vehicle Type
    • 1.4.4 North America Automotive Electric Power Steering Market, by Type
    • 1.4.5 North America Automotive Electric Power Steering Market, by Country
  • 1.5 Methodology for the research

Chapter 2. Market at a Glance

  • 2.1 Key Highlights

Chapter 3. Market Overview

  • 3.1 Introduction
    • 3.1.1 Overview
      • 3.1.1.1 Market Composition and Scenario
  • 3.2 Key Factors Impacting the Market
    • 3.2.1 Market Drivers
    • 3.2.2 Market Restraints
  • 3.3 Porter's Five Forces Analysis

Chapter 4. Strategies Deployed in Automotive Electric Power Steering Market

Chapter 5. North America Automotive Electric Power Steering Market by Propulsion Type

  • 5.1 North America ICE Market by Country
  • 5.2 North America Electric Market by Country

Chapter 6. North America Automotive Electric Power Steering Market by Component

  • 6.1 North America Steering Column Market by Country
  • 6.2 North America Electric Control Unit Market by Country
  • 6.3 North America Electric Motor Market by Country
  • 6.4 North America Rack & Pinion Market by Country
  • 6.5 North America Others Market by Country

Chapter 7. North America Automotive Electric Power Steering Market by Vehicle Type

  • 7.1 North America Passenger Cars Market by Country
  • 7.2 North America Commercial Vehicles Market by Country

Chapter 8. North America Automotive Electric Power Steering Market by Type

  • 8.1 North America Column Electric Power Steering Market by Country
  • 8.2 North America Rack Electric Power Steering Market by Country
  • 8.3 North America Pinion Electric Power Steering Market by Country

Chapter 9. North America Automotive Electric Power Steering Market by Country

  • 9.1 US Automotive Electric Power Steering Market
    • 9.1.1 US Automotive Electric Power Steering Market by Propulsion Type
    • 9.1.2 US Automotive Electric Power Steering Market by Component
    • 9.1.3 US Automotive Electric Power Steering Market by Vehicle Type
    • 9.1.4 US Automotive Electric Power Steering Market by Type
  • 9.2 Canada Automotive Electric Power Steering Market
    • 9.2.1 Canada Automotive Electric Power Steering Market by Propulsion Type
    • 9.2.2 Canada Automotive Electric Power Steering Market by Component
    • 9.2.3 Canada Automotive Electric Power Steering Market by Vehicle Type
    • 9.2.4 Canada Automotive Electric Power Steering Market by Type
  • 9.3 Mexico Automotive Electric Power Steering Market
    • 9.3.1 Mexico Automotive Electric Power Steering Market by Propulsion Type
    • 9.3.2 Mexico Automotive Electric Power Steering Market by Component
    • 9.3.3 Mexico Automotive Electric Power Steering Market by Vehicle Type
    • 9.3.4 Mexico Automotive Electric Power Steering Market by Type
  • 9.4 Rest of North America Automotive Electric Power Steering Market
    • 9.4.1 Rest of North America Automotive Electric Power Steering Market by Propulsion Type
    • 9.4.2 Rest of North America Automotive Electric Power Steering Market by Component
    • 9.4.3 Rest of North America Automotive Electric Power Steering Market by Vehicle Type
    • 9.4.4 Rest of North America Automotive Electric Power Steering Market by Type

Chapter 10. Company Profiles

  • 10.1 NSK Ltd.
    • 10.1.1 Company Overview
    • 10.1.2 Financial Analysis
    • 10.1.3 Segmental and Regional Analysis
    • 10.1.4 Research & Development Expenses
    • 10.1.5 Recent strategies and developments:
      • 10.1.5.1 Partnerships, Collaborations, and Agreements:
      • 10.1.5.2 Geographical Expansions:
    • 10.1.6 SWOT Analysis
  • 10.2 Robert Bosch GmbH
    • 10.2.1 Company Overview
    • 10.2.2 Financial Analysis
    • 10.2.3 Segmental and Regional Analysis
    • 10.2.4 Research & Development Expense
    • 10.2.5 SWOT Analysis
  • 10.3 HL Mando Corporation
    • 10.3.1 Company Overview
    • 10.3.2 Financial Analysis
    • 10.3.3 Regional Analysis
    • 10.3.4 Research & Development Expenses
    • 10.3.5 Recent strategies and developments:
      • 10.3.5.1 Partnerships, Collaborations, and Agreements:
    • 10.3.6 SWOT Analysis
  • 10.4 Hitachi, Ltd.
    • 10.4.1 Company Overview
    • 10.4.2 Financial Analysis
    • 10.4.3 Segmental and Regional Analysis
    • 10.4.4 Research & Development Expenses
    • 10.4.5 Recent strategies and developments:
      • 10.4.5.1 Partnerships, Collaborations, and Agreements:
    • 10.4.6 SWOT Analysis
  • 10.5 JTEKT Corporation
    • 10.5.1 Company Overview
    • 10.5.2 Financial Analysis
    • 10.5.3 Segmental Analysis
    • 10.5.4 Research & Development Expenses
    • 10.5.5 Recent strategies and developments:
      • 10.5.5.1 Acquisition and Mergers:
    • 10.5.6 SWOT Analysis
  • 10.6 ZF Friedrichshafen AG
    • 10.6.1 Company Overview
    • 10.6.2 Financial Analysis
    • 10.6.3 Regional Analysis
    • 10.6.4 Research & Development Expenses
    • 10.6.5 Recent strategies and developments:
      • 10.6.5.1 Partnerships, Collaborations, and Agreements:
    • 10.6.6 SWOT Analysis
  • 10.7 Thyssenkrupp AG
    • 10.7.1 Company Overview
    • 10.7.2 Financial Analysis
    • 10.7.3 Segmental and Regional Analysis
    • 10.7.4 Research & Development Expenses
    • 10.7.5 SWOT Analysis
  • 10.8 BBB Industries (Clearlake Capital Group, L.P.)
    • 10.8.1 Company Overview
    • 10.8.2 Recent strategies and developments:
      • 10.8.2.1 Acquisition and Mergers:
    • 10.8.3 SWOT Analysis
  • 10.9 Nexteer Automotive (Pacific Century Motors)
    • 10.9.1 Company Overview
    • 10.9.2 Financial Analysis
    • 10.9.3 Regional Analysis
    • 10.9.4 Recent strategies and developments:
      • 10.9.4.1 Product Launches and Product Expansions:
    • 10.9.5 SWOT Analysis
  • 10.10. Zhejiang Shibao Co., Ltd.
    • 10.10.1 Company Overview
    • 10.10.2 Financial Analysis
    • 10.10.3 Regional Analysis
    • 10.10.4 Research & Development Expenses

LIST OF TABLES

  • TABLE 1 North America Automotive Electric Power Steering Market, 2019 - 2022, USD Million
  • TABLE 2 North America Automotive Electric Power Steering Market, 2023 - 2030, USD Million
  • TABLE 3 North America Automotive Electric Power Steering Market by Propulsion Type, 2019 - 2022, USD Million
  • TABLE 4 North America Automotive Electric Power Steering Market by Propulsion Type, 2023 - 2030, USD Million
  • TABLE 5 North America ICE Market by Country, 2019 - 2022, USD Million
  • TABLE 6 North America ICE Market by Country, 2023 - 2030, USD Million
  • TABLE 7 North America Electric Market by Country, 2019 - 2022, USD Million
  • TABLE 8 North America Electric Market by Country, 2023 - 2030, USD Million
  • TABLE 9 North America Automotive Electric Power Steering Market by Component, 2019 - 2022, USD Million
  • TABLE 10 North America Automotive Electric Power Steering Market by Component, 2023 - 2030, USD Million
  • TABLE 11 North America Steering Column Market by Country, 2019 - 2022, USD Million
  • TABLE 12 North America Steering Column Market by Country, 2023 - 2030, USD Million
  • TABLE 13 North America Electric Control Unit Market by Country, 2019 - 2022, USD Million
  • TABLE 14 North America Electric Control Unit Market by Country, 2023 - 2030, USD Million
  • TABLE 15 North America Electric Motor Market by Country, 2019 - 2022, USD Million
  • TABLE 16 North America Electric Motor Market by Country, 2023 - 2030, USD Million
  • TABLE 17 North America Rack & Pinion Market by Country, 2019 - 2022, USD Million
  • TABLE 18 North America Rack & Pinion Market by Country, 2023 - 2030, USD Million
  • TABLE 19 North America Others Market by Country, 2019 - 2022, USD Million
  • TABLE 20 North America Others Market by Country, 2023 - 2030, USD Million
  • TABLE 21 North America Automotive Electric Power Steering Market by Vehicle Type, 2019 - 2022, USD Million
  • TABLE 22 North America Automotive Electric Power Steering Market by Vehicle Type, 2023 - 2030, USD Million
  • TABLE 23 North America Passenger Cars Market by Country, 2019 - 2022, USD Million
  • TABLE 24 North America Passenger Cars Market by Country, 2023 - 2030, USD Million
  • TABLE 25 North America Commercial Vehicles Market by Country, 2019 - 2022, USD Million
  • TABLE 26 North America Commercial Vehicles Market by Country, 2023 - 2030, USD Million
  • TABLE 27 North America Automotive Electric Power Steering Market by Type, 2019 - 2022, USD Million
  • TABLE 28 North America Automotive Electric Power Steering Market by Type, 2023 - 2030, USD Million
  • TABLE 29 North America Column Electric Power Steering Market by Country, 2019 - 2022, USD Million
  • TABLE 30 North America Column Electric Power Steering Market by Country, 2023 - 2030, USD Million
  • TABLE 31 North America Rack Electric Power Steering Market by Country, 2019 - 2022, USD Million
  • TABLE 32 North America Rack Electric Power Steering Market by Country, 2023 - 2030, USD Million
  • TABLE 33 North America Pinion Electric Power Steering Market by Country, 2019 - 2022, USD Million
  • TABLE 34 North America Pinion Electric Power Steering Market by Country, 2023 - 2030, USD Million
  • TABLE 35 North America Automotive Electric Power Steering Market by Country, 2019 - 2022, USD Million
  • TABLE 36 North America Automotive Electric Power Steering Market by Country, 2023 - 2030, USD Million
  • TABLE 37 US Automotive Electric Power Steering Market, 2019 - 2022, USD Million
  • TABLE 38 US Automotive Electric Power Steering Market, 2023 - 2030, USD Million
  • TABLE 39 US Automotive Electric Power Steering Market by Propulsion Type, 2019 - 2022, USD Million
  • TABLE 40 US Automotive Electric Power Steering Market by Propulsion Type, 2023 - 2030, USD Million
  • TABLE 41 US Automotive Electric Power Steering Market by Component, 2019 - 2022, USD Million
  • TABLE 42 US Automotive Electric Power Steering Market by Component, 2023 - 2030, USD Million
  • TABLE 43 US Automotive Electric Power Steering Market by Vehicle Type, 2019 - 2022, USD Million
  • TABLE 44 US Automotive Electric Power Steering Market by Vehicle Type, 2023 - 2030, USD Million
  • TABLE 45 US Automotive Electric Power Steering Market by Type, 2019 - 2022, USD Million
  • TABLE 46 US Automotive Electric Power Steering Market by Type, 2023 - 2030, USD Million
  • TABLE 47 Canada Automotive Electric Power Steering Market, 2019 - 2022, USD Million
  • TABLE 48 Canada Automotive Electric Power Steering Market, 2023 - 2030, USD Million
  • TABLE 49 Canada Automotive Electric Power Steering Market by Propulsion Type, 2019 - 2022, USD Million
  • TABLE 50 Canada Automotive Electric Power Steering Market by Propulsion Type, 2023 - 2030, USD Million
  • TABLE 51 Canada Automotive Electric Power Steering Market by Component, 2019 - 2022, USD Million
  • TABLE 52 Canada Automotive Electric Power Steering Market by Component, 2023 - 2030, USD Million
  • TABLE 53 Canada Automotive Electric Power Steering Market by Vehicle Type, 2019 - 2022, USD Million
  • TABLE 54 Canada Automotive Electric Power Steering Market by Vehicle Type, 2023 - 2030, USD Million
  • TABLE 55 Canada Automotive Electric Power Steering Market by Type, 2019 - 2022, USD Million
  • TABLE 56 Canada Automotive Electric Power Steering Market by Type, 2023 - 2030, USD Million
  • TABLE 57 Mexico Automotive Electric Power Steering Market, 2019 - 2022, USD Million
  • TABLE 58 Mexico Automotive Electric Power Steering Market, 2023 - 2030, USD Million
  • TABLE 59 Mexico Automotive Electric Power Steering Market by Propulsion Type, 2019 - 2022, USD Million
  • TABLE 60 Mexico Automotive Electric Power Steering Market by Propulsion Type, 2023 - 2030, USD Million
  • TABLE 61 Mexico Automotive Electric Power Steering Market by Component, 2019 - 2022, USD Million
  • TABLE 62 Mexico Automotive Electric Power Steering Market by Component, 2023 - 2030, USD Million
  • TABLE 63 Mexico Automotive Electric Power Steering Market by Vehicle Type, 2019 - 2022, USD Million
  • TABLE 64 Mexico Automotive Electric Power Steering Market by Vehicle Type, 2023 - 2030, USD Million
  • TABLE 65 Mexico Automotive Electric Power Steering Market by Type, 2019 - 2022, USD Million
  • TABLE 66 Mexico Automotive Electric Power Steering Market by Type, 2023 - 2030, USD Million
  • TABLE 67 Rest of North America Automotive Electric Power Steering Market, 2019 - 2022, USD Million
  • TABLE 68 Rest of North America Automotive Electric Power Steering Market, 2023 - 2030, USD Million
  • TABLE 69 Rest of North America Automotive Electric Power Steering Market by Propulsion Type, 2019 - 2022, USD Million
  • TABLE 70 Rest of North America Automotive Electric Power Steering Market by Propulsion Type, 2023 - 2030, USD Million
  • TABLE 71 Rest of North America Automotive Electric Power Steering Market by Component, 2019 - 2022, USD Million
  • TABLE 72 Rest of North America Automotive Electric Power Steering Market by Component, 2023 - 2030, USD Million
  • TABLE 73 Rest of North America Automotive Electric Power Steering Market by Vehicle Type, 2019 - 2022, USD Million
  • TABLE 74 Rest of North America Automotive Electric Power Steering Market by Vehicle Type, 2023 - 2030, USD Million
  • TABLE 75 Rest of North America Automotive Electric Power Steering Market by Type, 2019 - 2022, USD Million
  • TABLE 76 Rest of North America Automotive Electric Power Steering Market by Type, 2023 - 2030, USD Million
  • TABLE 77 Key Information - Nsk ltd.
  • TABLE 78 Key Information - Robert Bosch GmbH
  • TABLE 79 Key Information - HL Mando Corporation
  • TABLE 80 Key Information - Hitachi, Ltd.
  • TABLE 81 Key information - JTEKT Corporation
  • TABLE 82 Key Information - ZF Friedrichshafen AG
  • TABLE 83 Key Information - ThyssenKrupp AG
  • TABLE 84 Key Information - BBB Industries
  • TABLE 85 Key Information - Nexteer Automotive
  • TABLE 86 Key Information - Zhejiang Shibao Co., Ltd.

List of Figures

  • FIG 1 Methodology for the research
  • FIG 2 North America Automotive Electric Power Steering Market, 2019 - 2030, USD Million
  • FIG 3 Key Factors Impacting Automotive Electric Power Steering Market
  • FIG 4 Porter's Five Forces Analysis - Automotive Electric Power Steering Market
  • FIG 5 North America Automotive Electric Power Steering Market share by Propulsion Type, 2022
  • FIG 6 North America Automotive Electric Power Steering Market share by Propulsion Type, 2030
  • FIG 7 North America Automotive Electric Power Steering Market by Propulsion Type, 2019 - 2030, USD Million
  • FIG 8 North America Automotive Electric Power Steering Market share by Component, 2022
  • FIG 9 North America Automotive Electric Power Steering Market share by Component, 2030
  • FIG 10 North America Automotive Electric Power Steering Market by Component, 2019 - 2030, USD Million
  • FIG 11 North America Automotive Electric Power Steering Market share by Vehicle Type, 2022
  • FIG 12 North America Automotive Electric Power Steering Market share by Vehicle Type, 2030
  • FIG 13 North America Automotive Electric Power Steering Market by Vehicle Type, 2019 - 2030, USD Million
  • FIG 14 North America Automotive Electric Power Steering Market share by Type, 2022
  • FIG 15 North America Automotive Electric Power Steering Market share by Type, 2030
  • FIG 16 North America Automotive Electric Power Steering Market by Type, 2019 - 2030, USD Million
  • FIG 17 North America Automotive Electric Power Steering Market share by Country, 2022
  • FIG 18 North America Automotive Electric Power Steering Market share by Country, 2030
  • FIG 19 North America Automotive Electric Power Steering Market by Country, 2019 - 2030, USD Million
  • FIG 20 Recent strategies and developments: NSK Ltd.
  • FIG 21 SWOT Analysis: NSK Ltd
  • FIG 22 SWOT Analysis: Robert Bosch GmbH
  • FIG 23 SWOT Analysis: HL Mando Corporation
  • FIG 24 Swot Analysis: Hitachi, Ltd.
  • FIG 25 Swot Analysis: JTEKT Corporation
  • FIG 26 Swot Analysis: ZF Friedrichshafen AG
  • FIG 27 Swot Analysis: Thyssenkrupp AG
  • FIG 28 Swot Analysis: BBB Industries
  • FIG 29 Swot Analysis: Nexteer Automotive
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